Acquisition of all OCP Ecuador shares
Buenos Aires, August 30, 2024. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) announces the closing of the indirect acquisition of 36% of the share capital and voting rights of Oleoducto de Crudos Pesados Ecuador S.A. (‘OCP Ecuador’), a company in which Pampa already held 64% of the share capital. With this transaction, Pampa becomes the sole owner of OCP Ecuador and will begin to consolidate the company in our financial statements. The transaction amounted to US$23 million.
OCP Ecuador is the concessionaire of Ecuador’s main private oil pipeline, which extends over 485 kilometers. This pipeline crosses the Andes and connects the productive Amazon region with the maritime terminal at the port of Balao. This infrastructure was developed as a private initiative in 2001, with an initial investment of over US$1.4 billion under a 20-year concession.
Currently, OCP Ecuador transports an average of 150 thousand barrels of Ecuadorian oil daily, which represents approximately 30% of the country’s crude oil, in addition to 10 thousand barrels of oil per day from Colombia. In July 2024, the pipeline loaded more than 210 thousand barrels per day.
For more information, please contact:
Gustavo Mariani – CEO
Nicolás Mindlin – CFO
Lida Wang – Investor relations and sustainability officer – investor@pampa.com
Josefina Espinosa Paz – Press officer – prensa@pampa.com
The Pampa Energía Building
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000